It is a dilemma for many an entrepreneur: should you insure all your debtors or only the high-risk ones? For an entrepreneur, it is often clear which customer is more likely to have an unpaid invoice. Therefore, it sounds logical to insure only those high-risk customers. The experts at CreditDevice explain why that is not wise.
“Many business owners with credit insurance know they have a problem if they don’t meet the strict conditions,” the Sales Manager at CreditDevice knows. “But often they don’t know there’s a solution.”
“Many business owners with credit insurance know they have a problem if they don’t meet the strict conditions,” the Sales Manager at CreditDevice knows. “But often they don’t know there’s a solution.”
This year, CreditDevice has been nominated with the PolicyManager for the VVCM Innovation Award 2022. This award is presented annually to the organization that has successfully developed the newest, most innovative product or service in the credit management industry.
“Many business owners with credit insurance know they have a problem if they don’t meet the strict conditions,” the Sales Manager at CreditDevice knows. “But often they don’t know there’s a solution.”
Recently, The European Central Bank raised its interest rate by 0.75 percentage point. It is already the third increase in a short time. That means: watch out, borrowing money costs more money. By bringing down your DSO, you can save tens of thousands of euros.
Robbert Geluk is managing director of CreditDevice. He looks back on the past year and looks ahead: “It is no longer taken for granted that the debtor will pay, so there is much more attention to credit management again. Companies that address this structurally have a competitive advantage.”
One year ago CreditDevice and Diesis officially entered into partnership. Both Diesis and CreditDevice are parties that make the work of financial professionals easier and more efficient through IT solutions. By joining forces, we wanted to create even more value for our customers.
Debtor management is an important part of a company’s financial administration. It involves making sure that your customers pay your invoices on time and in full. This is essential for your company’s liquidity and profitability. Yet debtor management is often treated as an understudy. It is seen as a time-consuming and tedious chore that brings little appreciation. But is that really justified? In this blog, we explain why debtor management should actually be a priority for every business owner.
Debtor management is more than just sending invoices and reminders. It is also a form of customer contact and customer relationship management. In fact, how you approach your customers affects how they perceive your business and how they respond to your requests for payment.
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